Brokerages expect Shell Midstream Partners LP (NYSE:SHLX) to post $95.04 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Shell Midstream Partners’ earnings, with estimates ranging from $92.40 million to $97.67 million. Shell Midstream Partners posted sales of $75.60 million in the same quarter last year, which suggests a positive year-over-year growth rate of 25.7%. The firm is expected to announce its next quarterly earnings results on Thursday, February 22nd.

On average, analysts expect that Shell Midstream Partners will report full-year sales of $95.04 million for the current year, with estimates ranging from $325.00 million to $369.07 million. For the next fiscal year, analysts forecast that the firm will report sales of $505.12 million per share, with estimates ranging from $301.00 million to $673.18 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Shell Midstream Partners.

Shell Midstream Partners (NYSE:SHLX) last announced its earnings results on Friday, November 3rd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Shell Midstream Partners had a net margin of 85.14% and a return on equity of 3,826.80%. The business had revenue of $94.40 million for the quarter, compared to analysts’ expectations of $86.36 million. During the same period in the prior year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was up 39.0% compared to the same quarter last year.

SHLX has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $41.00 target price on shares of Shell Midstream Partners in a research report on Wednesday, September 27th. Stifel Nicolaus set a $30.00 target price on Shell Midstream Partners and gave the company a “buy” rating in a research report on Thursday, November 30th. Citigroup reaffirmed a “buy” rating and set a $32.00 target price (down from $36.50) on shares of Shell Midstream Partners in a research report on Monday, November 20th. UBS Group decreased their target price on Shell Midstream Partners from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, November 17th. Finally, Barclays decreased their price objective on Shell Midstream Partners from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Shell Midstream Partners currently has a consensus rating of “Hold” and a consensus price target of $34.63.

Shares of Shell Midstream Partners (NYSE SHLX) traded down $0.09 during trading on Thursday, hitting $30.65. The stock had a trading volume of 700,000 shares, compared to its average volume of 650,627. Shell Midstream Partners has a 1 year low of $24.68 and a 1 year high of $34.17. The stock has a market cap of $5,760.00, a price-to-earnings ratio of 24.33, a PEG ratio of 1.50 and a beta of 1.16. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 42.36.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cedar Wealth Management LLC increased its holdings in Shell Midstream Partners by 129.4% in the 3rd quarter. Cedar Wealth Management LLC now owns 5,230 shares of the pipeline company’s stock worth $146,000 after acquiring an additional 2,950 shares during the last quarter. Saratoga Research & Investment Management purchased a new stake in Shell Midstream Partners in the 3rd quarter worth about $146,000. The Manufacturers Life Insurance Company increased its holdings in Shell Midstream Partners by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,693 shares of the pipeline company’s stock worth $172,000 after acquiring an additional 398 shares during the last quarter. Balentine LLC increased its holdings in Shell Midstream Partners by 63.7% in the 3rd quarter. Balentine LLC now owns 7,763 shares of the pipeline company’s stock worth $216,000 after acquiring an additional 3,021 shares during the last quarter. Finally, Creative Planning purchased a new stake in Shell Midstream Partners in the 4th quarter worth about $235,000. 53.26% of the stock is owned by institutional investors.

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Shell Midstream Partners Company Profile

Shell Midstream Partners, L.P. is a master limited partnership company, which owns, operates, develops and acquires pipelines and other midstream assets. The Company conducts its operations through its subsidiary, Shell Midstream Operating, LLC. Its assets consist of interests in entities that own crude oil and refined products pipelines serving as key infrastructure to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets and to deliver refined products from those markets to demand centers.

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